KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Gold and silver surged to fresh record highs as investors rushed into safe-haven assets , driven by escalating geopolitical tensions, a weaker US dollar, and expectations of further US interest rate cuts . What’s Driving the Rally Geopolitical risk spikes , particularly renewed US–Iran tensions US dollar weakness , making precious metals cheaper for global buyers Expectations of Fed rate cuts , with markets eyeing June as the next move Strong ETF inflows , signalling institutional demand Spot gold climbed 2.1% to US$5,513 , after touching a peak near US$5,595 , marking nine consecutive sessions of record highs . The metal is now up 28% for January . Silver followed closely, breaking above US$120 and extending its year-to-date gain to nearly 64% . Geopolitics Back in Focus US President Donald Trump urged Iran to negotiate a nuclear deal, warning of stronger retaliation than previous US strikes on Iranian nuclear facilities...